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Where Taxpayers and Advisers Meet

First Home in Scotland and Bare Ownership in Greece

user20201
Posts:1
Joined:Fri Feb 28, 2020 10:57 am
First Home in Scotland and Bare Ownership in Greece

Postby user20201 » Fri Feb 28, 2020 11:01 am

Hi everyone,

Thank you in advance for your comments.

I and my wife are trying to buy our first property in Scotland. My wife has bare ownership of a property in Greece. Our solicitor said that we have to pay tax for the property that we buy in Scotland, is that correct? Even if I get the property under my name he said that I am still liable for second property tax.

Any information is welcome.

Thank you

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: First Home in Scotland and Bare Ownership in Greece

Postby AGoodman » Fri Feb 28, 2020 1:11 pm

Possibly not. If your in-laws have a usufruct in the property, there is a reasonable argument that the property should be treated as theirs rather than your wife's.

It turns on whether you can treat a usufruct like a settlement/trust. You would need some specialist tax adviser input to address it. You could also try an HMRC helpline, although first line staff are unlikely to have an answer.

Transferring to you doesn't help because spousal properties are amalgamated.

gruk
Posts:1
Joined:Mon Mar 09, 2020 9:28 am

Re: First Home in Scotland and Bare Ownership in Greece

Postby gruk » Mon Mar 09, 2020 12:31 pm

I would love to hear back the results of that as I am in the same situation.

ohnotaxes
Posts:2
Joined:Mon May 31, 2021 4:55 pm

Re: First Home in Scotland and Bare Ownership in Greece

Postby ohnotaxes » Mon May 31, 2021 5:27 pm

I would love to hear back the results of that as I am in the same situation.
@gruk @user20201

Sooo...what happened for you guys? Did you end up paying the surcharge?


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